top 10 peer to peer lending india
kwanauthorTop 10 Peer-to-Peer Lending Platforms in India
India's evolving financial landscape has witnessed a significant shift in the way people borrow and invest money. The peer-to-peer (P2P) lending model has emerged as a promising alternative to traditional banking institutions. P2P lending platforms connect borrowers and lenders, allowing the latter to provide short-term loans to individuals and small businesses. In this article, we will explore the top 10 peer-to-peer lending platforms in India.
10. Lendingkart
Lendingkart is an online P2P lending platform that focuses on micro and small enterprises. It provides loans ranging from Rs. 50,000 to Rs. 5 lakhs, with a repayment period of 6-18 months. Lendingkart claims to have disbursed more than Rs. 50 crore in loans since its inception in 2016.
9. FundingCircle
FundingCircle is an online P2P lending platform that connects investors with small businesses in India. It offers loans ranging from Rs. 5 lakhs to Rs. 50 lakhs, with a repayment period of 12-36 months. FundingCircle has disbursed more than Rs. 100 crore in loans since its inception in 2015.
8. Bonafide
Bonafide is an online P2P lending platform that specializes in lending to students. It provides loans for higher education, with repayment terms ranging from 3-60 months. Bonafide claims to have disbursed more than Rs. 10 crore in loans since its inception in 2016.
7. ZestMoney
ZestMoney is an online P2P lending platform that focuses on providing loans to young adults. It uses artificial intelligence and data science to assess the creditworthiness of borrowers, allowing it to provide loans ranging from Rs. 5,000 to Rs. 20 lakhs. ZestMoney claims to have disbursed more than Rs. 50 crore in loans since its inception in 2018.
6. Payday Loans
Payday Loans is an online P2P lending platform that specializes in providing loans to low-income individuals. It offers loans ranging from Rs. 5,000 to Rs. 10 lakhs, with a repayment period of 1-60 months. Payday Loans claims to have disbursed more than Rs. 100 crore in loans since its inception in 2016.
5. LazyPay
LazyPay is an online P2P lending platform that focuses on providing loans to individuals for personal expenses. It offers loans ranging from Rs. 5,000 to Rs. 20 lakhs, with a repayment period of 6-36 months. LazyPay claims to have disbursed more than Rs. 50 crore in loans since its inception in 2016.
4. MoneyGram
MoneyGram is an online P2P lending platform that focuses on providing loans to small businesses. It offers loans ranging from Rs. 5 lakhs to Rs. 50 lakhs, with a repayment period of 12-36 months. MoneyGram claims to have disbursed more than Rs. 200 crore in loans since its inception in 2014.
3. iSavi
iSavi is an online P2P lending platform that focuses on providing loans to small businesses and micro enterprises. It offers loans ranging from Rs. 5 lakhs to Rs. 50 lakhs, with a repayment period of 12-36 months. iSavi claims to have disbursed more than Rs. 250 crore in loans since its inception in 2014.
2. Lendin
Lendin is an online P2P lending platform that focuses on providing loans to small businesses. It offers loans ranging from Rs. 5 lakhs to Rs. 50 lakhs, with a repayment period of 12-36 months. Lendin claims to have disbursed more than Rs. 500 crore in loans since its inception in 2012.
1. ZestMoney
ZestMoney is an online P2P lending platform that focuses on providing loans to young adults. It uses artificial intelligence and data science to assess the creditworthiness of borrowers, allowing it to provide loans ranging from Rs. 5,000 to Rs. 20 lakhs. ZestMoney claims to have disbursed more than Rs. 500 crore in loans since its inception in 2018.
In conclusion, the top 10 peer-to-peer lending platforms in India have shown impressive growth in the past few years. These platforms have successfully bridged the gap between borrowers and lenders, allowing individuals and small businesses to access affordable loans. As the digital landscape continues to evolve, we can expect more innovative and efficient P2P lending platforms to emerge in the coming years.